Not the same thing, but on the same theme, in the 90's, manufacturers (Score / Pinnacle) punched holes when one was redeeming cards and returned them to the owners. The most obvious I think is the 1994-95 Score Gold Line Hockey.
Also, if they were printer's waste or returns to manufacturers, they would be destroyed/shred/burned, not cut that way. Clothing stores would cut labels or make a long cut in the garment, magazine/newspapers/book would take off the cover page, casinos drill a hole in the playing cards and they all in common that they make sure that their goods won't return to the market as competition. I doubt that card manufacturers would just risk to see these cards flood their market that way as second quality items and cut their profit.
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